Summitry LLC Sells 25 Shares of Deere & Company (NYSE:DE)

Summitry LLC cut its stake in shares of Deere & Company (NYSE:DE) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 773 shares of the industrial products company’s stock after selling 25 shares during the period. Summitry LLC’s holdings in Deere & Company were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Wellington Management Group LLP grew its stake in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after purchasing an additional 31,459 shares during the period. FMR LLC grew its position in shares of Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Deere & Company by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,155,613 shares of the industrial products company’s stock valued at $913,334,000 after purchasing an additional 160,956 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Deere & Company by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after purchasing an additional 107,544 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $479.70 on Wednesday. The firm has a market capitalization of $130.20 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01. The stock has a fifty day moving average of $475.21 and a 200 day moving average of $438.25. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s payout ratio is 28.72%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Robert W. Baird restated a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a research report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup lifted their price objective on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Evercore ISI raised their price objective on Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $460.00.

Insiders Place Their Bets

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.